Shares of Polestar Automotive Holding UK PLC (PSNY), backed by Geely Automobile Holdings Ltd. (GELYF) and Geely (GELHY), were up in premarket trading Thursday. The electric vehicle maker just gave investors a reason to be cheerful: it sold more cars in the first quarter than ever before.
The company reported retail sales of 13,126 vehicles for Q1 2026, a 7% increase from the same period last year. That’s not just a modest bump—it’s Polestar’s highest first-quarter sales on record. Sometimes, in a tough market for EVs, just holding steady feels like a win. Growing? That’s something to talk about.
And it’s not just about moving metal. Polestar has been busy building the stores to sell it. The company now has 230 retail locations, up from 154 a year ago. That’s a 50% expansion in its physical footprint. If you’re keeping score, that means more places for customers to kick the tires on a Polestar 2 or get excited about what’s coming next. The company expects to grow that network to about 250 locations by the end of the year, which would be a 20% increase from where it ended 2025.
CEO Michael Lohscheller said the company has “remained resilient in a challenging market,” pointing to strong performance in Australia, Germany, Sweden, South Korea, and the United Kingdom. It’s a global story, not just a one-region wonder.
What’s Next? A Four-Car Blitz
If you thought Polestar was just resting on its current lineup, think again. Back in February, the company outlined plans to launch four new electric vehicles over the next three years. This isn’t a minor refresh—it’s being billed as the company’s “largest product push to date,” with four new models slated to arrive between 2026 and 2028. The goal is to broaden the lineup and target higher-volume segments, which should, in theory, help improve operating performance. More models in more categories means more potential customers. Simple math, but hard to execute.
What the Charts Are Saying
Let’s talk numbers. At $21.00, Polestar is trading 18.2% above its 20-day simple moving average of $17.77 and 19.1% above its 100-day SMA of $17.63. That suggests some decent short- and intermediate-term momentum. But it’s also trading 12.2% below its 200-day SMA of $23.93, which hints that longer-term challenges might still be lingering.
The relative strength index (RSI) is sitting at 65.67. For those not glued to their trading screens, that’s getting close to overbought territory—often a sign that a pullback could be in the cards if buying pressure eases up. On the flip side, the moving average convergence divergence (MACD) is flashing a bullish signal, with the MACD line at 0.6187 above the signal line at 0.2037. So, the momentum indicators are telling a bit of a mixed story: upward push right now, but maybe running out of steam soon.
- Key Resistance: $23.50 — This level could act as a ceiling if the stock tries to climb higher.
- Key Support: $21.00 — This is where the stock is trading now, and it might serve as a floor if things turn south.
Zooming out, Polestar’s 12-month performance shows a decline of 33.91%. That’s a sobering reminder of the headwinds the company has faced over the past year. The stock is currently in the middle of its 52-week range, which might suggest it’s finding some stability after a rocky period.
What the Analysts Think
Not everyone is on board the Polestar train. Recent analyst moves include:
- Cantor Fitzgerald: Downgraded to Underweight on February 19.
- Barclays: Maintained an Underweight rating but raised its price target to $15.00 on January 23.
So, while the retail sales news is good, the analyst community seems to be taking a more cautious view.
ETF Exposure: Why It Matters
Polestar isn’t just a standalone stock—it’s also tucked inside some exchange-traded funds. Most notably, it has a 1.85% weight in the SPDR S&P Kensho Smart Mobility ETF (HAIL). Why should you care? Because if that ETF sees significant money flowing in or out, it can trigger automatic buying or selling of Polestar shares. It’s a mechanical effect that can move the stock independent of company-specific news.
As of Thursday’s premarket, Polestar shares were up 1.84% at $21.00. The record sales and retail expansion are clearly giving investors a jolt of optimism. Now the question is whether the momentum can hold as the company gears up for its big product offensive and navigates those longer-term chart levels.
